The End of Economics?

In 1998, as the Asian financial crisis was ravaging what had been some of the fastest-growing economies in the world, the New Yorker ran an article describing the international rescue efforts. It profiled the super-diplomat of the day, a big-idea man the Economist had recently likened to Henry Kissinger. The New Yorker went further, noting that when he arrived in Japan in June, this American official was treated “as if he were General [Douglas] MacArthur.” In retrospect, such reverence seems surprising, given that the man in question, Larry Summers, was a disheveled, somewhat awkward nerd then…

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Modern economics needs to be based on Gandhian model of economics, says former vice-chancellor of Gujarat University at SPPU

Revisiting Mahatma Gandhi’s words which say that‘Economics is untrue which ignores or disregards moral values’, Prof Sudarshan Iyengar, former vice-chancellor of Gujarat University asserted that modern economics needs to be based on the Gandhian model of economics. He was speaking at a colloquium programme organised by the Savitribai Phule Pune University on Friday at the university campus. Iyengar said, “Modern economics teaches us to maximise the use with minimum resources. However, Mahatma Gandhi urged everyone to limit the wants. In modern economics, the biggest mistake that modern economic science has…

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Do Women Avoid Economics…Or Does Economics Avoid Women?

A recent New York Times piece highlighted the problems women continue to face in the economics profession. The article in question discusses the harassment experienced by female economists and touches on several related issues like the low number of women PhD economists (especially at senior ranks). This is hardly news to any of us in the dismal science. There have long been articles, both in the popular press and academia, about the underrepresentation of women and the challenges they face. Recently there was a particularly upsetting piece on the horrific language used by budding PhDs to describe their…

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